Bitcoin is a manipulated coin? - page 2.

knowhow

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Quote from: chennan on January 29, 2016, 05:29:16 PM

Quote from: BTCBinary on January 29, 2016, 05:21:01 PM

Unfortunatelly I'll have to agree. Yes Bitcoin is a manipulated coin. it is manipulated by a small group of Devs and a small group of traders.
Bitcoin is becoming centralized and we will need a new coin that can be truly decentralized.

I've been actually reading some stuff on the altcoin section where there is a coin (aeon) who's core dev (Smooth) is implementing a type of "ASIC resistant" mining technique that lowers the possibility of centralization... It's called "smart mining" and it allows any type of low powered computer, whether it's a laptop or even possibly a phone can start mining and only is "turned on" when connected to a power source. But essentially it lowers the hash to such a level that's automatically determined to not burn up/ruin the computer your running the smart mining OS on, or won't drain an insane amount of electricity/energy.

This will allow anyone to be able to start mining, whether it will get you anything out of it or not. I really haven't looked more into it, but it sounds like a really cool idea to me; because the level of centralization and barrier to enter the mining space is a real problem that should be addressed by bitcoin devs.

Well im curious about those new coin aeon and the concept looks to be fair to all with or without a machine worthing 5000dollars or above,but i really believe that we need just a coin that all can have lets say 500 coins and then those coin will be staked daily or yearly with a max number of coins,there already coins working similiar but they give advantage to big holders soo they kill the currency easy.

Hugroll

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Quote from: abs350 on January 28, 2016, 09:45:29 PM

Vote guys

i think it is manipulated because a millionaire can come in and easily raise the price by buying a ton of coins. although they might end up losing money, which is why i guess people dont do this already.

jerowacik

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Quote from: lostintranslation on January 31, 2016, 07:31:52 PM

Manipulation in any kind of currency (fiat or crypto) is an undeniable reality, and proportional to the centralization of such currency in the hands of few groups.

yes true. each group and even each person is actually able to manipulate. moreover they are supported as those that influence every decision.

lostintranslation

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Manipulation in any kind of currency (fiat or crypto) is an undeniable reality, and proportional to the centralization of such currency in the hands of few groups.

BitHodler

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Quote from: takingthis4 on January 31, 2016, 12:33:23 PM

it is a little bit manipulated as people can move the bitcoin price if they have a lot of money for that

Lol. It is either manipulated or it is not, there is no mid way here.

owm123

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off course it ease.

Its market cap is still relatvely small, so few whales can manipulate its price.

Most bitcoin trading is done on chinese exchanges, so its price is controlled by chinese whales and exchanges.

Most mining power comes from china, so they control which transactions to confirm, what fees are too low and which are good enough. Because of that, they also have major say whether we will have 1MB blocks, 2MB blocks or anything else.

Bitcoin core development is controlled by a company called Blockstream. So they develop core in a why its best for them, not necessarily bitcoin community.

busybee7

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yes it is actually manipulated, and thats not a good thing, in my opinion people who have a lot of money can have impact

MrGodMan

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Quote from: takingthis4 on January 31, 2016, 12:33:23 PM

it is a little bit manipulated as people can move the bitcoin price if they have a lot of money for that

Its true that bitcoin is some how a manipulated coin because the rate of bitcoins is always getting affected.

busybee7

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no it is not, governments can not change it price and no one can actually do that so it is not manipulated

swogerino

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Quote from: btckold24 on January 28, 2016, 10:24:11 PM

it definitely is manipulated.

All it takes is a few guy who own a ton of it to sell / buy more at the same time
for it to move a bunch. Then people get spooked and it causes panic selling by others.

Whales can absolutely control the price of bitcoins, and then with a forced change, they can start to gain a huge profit themselves. The rich get richer, but the rest have to anticipate what the hell is happening.

Coaxme

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Quote from: equator on January 29, 2016, 12:19:57 AM

Yes Bitcoin is Manipulated coin, like what all said, the coin in the market is less so if any big players suddenly start a atleast 25% share of market for buying we can see the price roaring up very soon and same time if anyone just dump sell the bitcoin in market rate their we can see the panic selling, so when anything is happening like this that means it is manipulated coin. and Most of the Crypto coins are priced in conversion of Bitcoins so they are also getting affected by the fluctuation of Bitcoins.

I agree to your opinion, but it is not manipulated IMO.

takingthis4

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it is a little bit manipulated as people can move the bitcoin price if they have a lot of money for that

RealBitcoin

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Considering the DDOS-es and the number of sockpuppet accounts around here, hell yeah its manipulated.

But it gets harder and harder, so the free market will prevail!

Anddos

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Quote from: OnTheMF on January 31, 2016, 12:20:26 AM

Quote from: Anddos on January 30, 2016, 05:15:21 PM

I personally am curious what will happen when mining will stop. Then the real war and manipulation will begin.

Bitcoins is a manipulated coin same like some how other currencies. if we believe that this is a real currency then I am hundred percent sure that one day people will try to buy and sell everything with bitcoins only.

Agreed. And you don't have to believe. It is money. I've bought things with bitcoin. There are actual e-stores that sell for bitcoin. If it's not real money than what are we all doing here? Playing?

OnTheMF

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Quote from: Anddos on January 30, 2016, 05:15:21 PM

I personally am curious what will happen when mining will stop. Then the real war and manipulation will begin.

Bitcoins is a manipulated coin same like some how other currencies. if we believe that this is a real currency then I am hundred percent sure that one day people will try to buy and sell everything with bitcoins only.

pooya87

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Quote from: TastyChillySauce00 on January 30, 2016, 10:36:09 PM

Quote from: Pro Gamers on January 29, 2016, 09:02:34 PM

Quote from: kyrios_ on January 29, 2016, 08:36:34 PM

Manipulated, are you reffering to the price of bitcoin or the usage?

The price for sure due to up and down changes recently and was happened too fast

this probably because some of trader do make a group or association to pump or dump btc prices, its just my opinion, and i feel it like conspiracy

there are other factors involving in it too.
for example the bad news that is being spread sometimes through different websites that creates a chain reaction of panic sells or panic buys which both can drive the market in different directions.

CuntChocula

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Quote from: mayax on January 30, 2016, 10:29:18 PM

Quote from: CuntChocula on January 29, 2016, 01:07:07 PM

Quote from: mayax on January 29, 2016, 11:17:04 AM

Quote from: CuntChocula on January 29, 2016, 09:47:37 AM

Quote from: Quantus on January 29, 2016, 09:16:57 AM

... The lack of faith in these companies makes it very hard to go long on bitcoin. ...

There's Gemini -- fully regulated, US-based & backed by big bux :-

regulation brings a lot of things like strong AML, verifications, etc. The most Bitcoin traders prefers to stay away of this thing.

Also, Gemini is used by americans only.

So... You would like an unregulated, implicitly criminal exchange (because AML laws, as a minimum would have to be based in some Somalisan), which doesn't verify users, that you can trust?

Gemini, Coinbase, Circle and Itbit were regulated last year. I think they are the only regulated exchangers. How do the BTC users have funded their accounts until then? By using UNregulated exchangers.

Also, so called big exchangers like BTC China, Okcoin, Huobi, Bitstamp, Btc-e are NOT license so are not regulated. Do you know where is BTC-e office?

More than 90% from BTC market is not "regulated". IF the most exchangers will have financial license, BTC value will drop to almost zero because the black market(more than 85% from BTC) is not interested to share personal information and they will migrate to other e-currency like they did it in the recent past from Liberty Reserve or from E-gold

1. Guy complains that "lack of faith in [exchanges] makes it very hard to go long on bitcoin."
2. I suggest Gemini, which is regulated and backed up the wazoo, to calm his fears.
3. You chime in, suggesting that bitcoin traders are ~~money launderers~~ ~~don't wanna be linked to the overpriced drugs/child porn they buy with bitcoins~~ rather privacy conscious.
4. I respond by subtly hinting that bank-like trustworthiness is exceedingly rare in institutions breaking KYC/AML laws.
5. And here ya are, and it's a beautiful day. Well. I just don't understand it.

TastyChillySauce00

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Quote from: Pro Gamers on January 29, 2016, 09:02:34 PM

Quote from: kyrios_ on January 29, 2016, 08:36:34 PM

Manipulated, are you reffering to the price of bitcoin or the usage?

The price for sure due to up and down changes recently and was happened too fast

this probably because some of trader do make a group or association to pump or dump btc prices, its just my opinion, and i feel it like conspiracy

mayax

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Quote from: CuntChocula on January 29, 2016, 01:07:07 PM

Quote from: mayax on January 29, 2016, 11:17:04 AM

Quote from: CuntChocula on January 29, 2016, 09:47:37 AM

Quote from: Quantus on January 29, 2016, 09:16:57 AM

... The lack of faith in these companies makes it very hard to go long on bitcoin. ...

There's Gemini -- fully regulated, US-based & backed by big bux Undecided

regulation brings a lot of things like strong AML, verifications, etc. The most Bitcoin traders prefers to stay away of this thing.

Also, Gemini is used by americans only.

So... You would like an unregulated, implicitly criminal exchange (because AML laws, as a minimum would have to be based in some Somalisan), which doesn't verify users, that you can trust?

Gemini, Coinbase, Circle and Itbit were regulated last year. I think they are the only regulated exchangers. How do the BTC users have funded their accounts until then? By using UNregulated exchangers.

Also, so called big exchangers like BTC China, Okcoin, Huobi, Bitstamp, Btc-e are NOT license so are not regulated. Do you know where is BTC-e office?

More than 90% from BTC market is not "regulated". IF the most exchangers will have financial license, BTC value will drop to almost zero because the black market(more than 85% from BTC) is not interested to share personal information and they will migrate to other e-currency like they did it in the recent past from Liberty Reserve or from E-gold

Anddos

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I personally am curious what will happen when mining will stop. Then the real war and manipulation will begin.

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